Ontario Municipal Employees Retirement System, British Airways Pensions Pension Scheme and Ontario Teachers’ Pension Plan led pension funds in terms of the largest new energy positions taken in in the first quarter.
According to the latest 13F filings, OMERS accounted for three of the top 10 new energy positions among pension funds in the quarter ended March 31, with stakes in QEP Resources ($41.2 million), Regency Energy ($23.5 million) and Kinder Morgan ($9.5 million). Regency was subsequently acquired by Energy Transfer Partners, effective April 30, after announcing the deal in mid-January.
British Airways Pensions Investment Management was next, reporting new positions in Chevron ($33.8 million) and EOG Resources ($33.6 million).
While the price of oil has rebounded about 7.5% since the beginning of the year, the S&P 500 Energy index has been flat.